“The country’s economy has been unstable because since independence we have been exporting only raw materials. An economy like ours is always at the mercy of the buyers because they determine the price on the international market. I want us to process our bauxite. Bauxite in its raw state is sold at $40 per tonne but when processed sells at $350 per tonne. So which is better?” he rhetorically asked.

Prices of cocoa over the last two years, according to the President, had fallen drastically with Ghana’s foreign exchange falling short of some $1.3 billion as a result.

President Mahama said plans were underway to facilitate the construction of an ultra-modern hospital for the region.

He said between now and 2016, the roads in the region, which are in bad condition, would see a drastic facelift.

Earlier in the day, President Mahama had met the chiefs and people of Akuapem at the Akroponghene Oseadeeyo Addo Dankwa’s palace where he said he was happy about their unification.

“In 2012 when I came here I did not see some of you. I was not happy about it, but today I am very happy that all the divisional chiefs are here – signifying you are now a united front,” he underscored.

He promised that an ongoing project at the Kpong dam site would soon end the perennial water shortage on the Akuapem Ridge.

He also cut a sod for the beginning of rehabilitation work at the Regional House of Chiefs at Koforidua before arriving at the Jackson Park where he addressed a large gathering.

The President is scheduled to arrive at Kyebi on Wednesday to commission a water project and also inspect some ongoing projects in the Afram Plains and later attend a durbar at Somanya where the university is slated to be built.